Silverflow, a cutting-edge payment processing technology company, has secured a €15 million investment led by industry veterans and payments experts at Global Paytech Ventures. Picus Capital, Coatue, Crane Venture Partners, Inkef, and several angel investors also participated with a valuation substantially higher than Series A in 2021.
The investment will be used to fast-track Silverflow’s aggressive global expansion plans. This announcement comes on the heels of Silverflow’s official expansion into the US and APAC markets earlier this year, after which the company swiftly secured new customer contracts in these regions.
“Our biggest challenge has been getting customers to believe this technology is real,” commented Anne Willem de Vries, Co-Founder of Silverflow. “They often tell us it’s too good to be true. It’s hard to fathom that after utilizing the same technology for 30-40 years Silverflow has taken the time to build something better that solves these complex issues for our customers.”
Silverflow is a cloud-native solution with a single API to the card networks and set up on one. One platform with one connection. Reducing cost and complexity, easy to use, data-rich, Silverflow allows customers frees you to innovate. Silverflow is disrupting the payment industry with cutting-edge, cloud-based processing technology. Within four years, Silverflow has won some of the biggest names as customers throughout Europe, North America, and APAC including Deutsche Bank, Transaction Services, Buckaroo, PAYABL., Intergiro, and more.
Former Mastercard Europe CEO and Founder & Managing Director of Global Paytech Ventures Javier Perez said: “We are delighted to lead this round, raising €15 Million cash. Silverflow presents a unique opportunity for enabling both legacy and new players of any kind to have access to deploy the most modern, secure and efficient payments processing platform to acquirers, PSPs, PayFacs and merchants to enable them to outperform existing legacy players. We would also like to extend a thank you to our fellow co-investors.”
Florian Reichert, Partner and Managing Director at Picus Capital, added: “We are excited to join Silverflow’s journey after having followed the company very closely since its seed round. The team has built a best-in-class solution that is disrupting the payment processing market and we are convinced they will continue to build the clear category leader in the space. We very rarely received such strong customer feedback and expert validation which underlines their innovative product vision and superior technology.”
The payments industry has seen its fair share of disruptors in the past decade or so with players like Adyen, Stripe, Paypal and more making huge technological improvements to the front end, providing easy-to-use and innovative solutions for merchants to leverage the latest payments options on the market. But little has been done to improve the backend payment processing, which has been running on technology that is nearly 40 years old. The Silverflow founders saw an opportunity to vastly improve the way payment processing was being done by creating a brand new approach that allows acquirers, PSPs, PayFacs, and large merchants to gain access to one platform that provides all card scheme data and the most innovative functionality all in one easy-to-use platform.
Read the orginal article: https://www.eu-startups.com/2023/11/amsterdam-based-silverflow-raises-e15-million-to-fast-track-expansion-of-cloud-based-payments-processing-platform/
